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The 2023 Recession is coming according to every media outlet and it’s apparently 100% certain.
And once again we see everyone panicking, stocks selling off and investors throwing toys out of their prams.
But is it really all that ugly? Here’s a different perspective.
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BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
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As the world grapples with the COVID-19 pandemic, experts are predicting that the global economy is headed towards the biggest recession ever. The International Monetary Fund (IMF) has already called it the worst economic downturn since the Great Depression of the 1930s. Various factors, such as heightened levels of unemployment, slowed economic activity, and a decrease in consumer spending, have triggered a chain reaction that is shaking the foundations of many economies.
To avoid drowning in the incoming recession, it is vital to prepare. Preparing for the worst is the only way to stay ahead of the curve and mitigate the impacts of the recession. Here are some things to keep in mind to help you prepare for the upcoming recession.
First and foremost, prioritize your finances. During a recession, there is not much room for frivolous spending as money becomes scarce. If you are in a position of debt, it is important to put in place a plan to pay off your debts before the recession. Avoid accruing more debt during this time as it will only worsen your situation. Budgeting your expenses is also key to ensuring your financial stability during this time.
Secondly, save as much as you can. Having a cushion of savings will help you stay afloat in case of job losses or other financial setbacks. It is advisable to create an emergency fund that can cover your expenses for a few months or more. This could involve cutting back on your expenses and saving more than you usually would.
Thirdly, explore opportunities to diversify your income. During a recession, job opportunities become scarce, and some people may lose their primary sources of income. Thus, it is important to have multiple streams of income to cushion any financial blows. This could include generating income from a part-time job, creating passive income streams, or even starting a small business.
Lastly, it is essential to stay informed. There is no playbook for what comes next, so keeping abreast of the situation can help you make informed decisions as to how to proceed. Stay on top of the news and developments in the world economy and be vigilant for any signs of change.
All in all, the upcoming recession may be the biggest we have ever experienced, but it is not a doomsday scenario. With the right preparation, you can weather the storm and come out on the other side stronger. So, prioritize your finances, save as much as you can, explore opportunities to diversify your income, and stay informed.
To learn more than ever from important non-fiction books, join me on Shortform: https://shortform.com/sasha.
You’ll get a 5-day free trial and a 25% discount on your annual subscription. One of my favorite books on Shortform is One Up On Wall Street by Peter Lynch.
You are unbearable to listen to
what about for example bitcoin ?
TL:DR?
WHATEVER HAPPENS HAPPENS .
I don’t care .
John 6:37 All that the Father giveth me shall come to me; and him that cometh to me I will in no wise cast out.
If you invested in 2009 you would be rich today….. people who sold everything are pulling their hair today… now you do you
Yup more than 50% in cash and gold, commodities and bonds
Sold my houses and bought BTC.
Nero fiddled while Rome burned…. see you on the other side! 🙂 hopefully…
If I had listened to you I would.of.missed out on fridays gains
Tbh my stocks are decreasing as I don’t really care as I can keep investing lower. I’m only 18 so I have time left so I’m just going to keep investing and hopefully my accounts can grow
hmm welp. today sure was a doozy then.
You buy more not sell if goes down more buy more
Opportunity looms.
Why so many bank collapses? Huge business bankruptcy? Loss of jobs? Fed lies? Ww3? Block chain? Cbdc? New IRS rules? Looks bad. Sort of like gambling.
Recessions are part of the economic cycle, all you can do is make sure you're prepared and plan accordingly. I graduated into a recession (2009). My 1st job after college was aerial acrobat on cruise ships. Today I'm a VP at a global company, own 3 rental properties, invest in stocks and biz, built my own business, and have my net worth increase by $500k in the last 4 years.
I haven't a fuckin clue what yir on about, but I think this might be the best youtube channel ever…
We have avoided a recession by changing the definition
I would only sell if I was in profits. Other than that hold until it all comes back up. The bottom was hit in October. We will go sideways the rest of this year. No collapse coming.